Below you will find pricing information relating to Debt Recovery.
If you would like a more accurate quotation, please contact our Litigation Team, who will give you a quotation based upon your specific circumstances.
Who will advise you?
Our Litigation Team includes qualified solicitors and paralegals and has significant experience in obtaining judgments from the Court to enable numerous Debt Recovery options to become available to you as a client.
Range of costs
Our range of costs for Debt Recovery are as follows:
- Preparing and issuing a Claim Form at the Small Claims Court only - £425 to £750, plus VAT and disbursements
- Further administration once the Claim Form has been issued by the court - £1,000 to £3,000, plus VAT and disbursements
What do the fees cover?
The fees set out above cover the following stages of the claim:
- Making a claim for money owed by a person or business.
- Enforcing the judgment following one of the following processes:
- Order the debtor to attend court to find out what the debtor can afford to pay.
- Requesting the bailiffs to collect payment – this will take place within 7 days, and if the debt is not paid the bailiff will visit the debtor’s home or business to see if anything can be sold to pay the debt. Please note that this only applies where the debt owed is between £600 and £5,000.
- Requesting the court to take money from the debtor’s wages.
- Requesting the court to freeze money in the debtor’s bank, building society or business account.
- Requesting the court to charge the debtor’s land or property.
- If payment is received from the debtor, distributing the same to you.
Any one, or multiple methods as set out above can be used, and the fees will differ depending on which method(s) is/are used.
Variable factors that can make a case more complex
A case may become more complex in the following scenarios:
- Where the debtor does not respond to any correspondence.
- Where numerous methods need to be used in order to get a result.
- Where the claim is of a small or large amount.
- Where the debtor does not own a property.
- Where the debtor does not have a permanent job.
Disbursements
Disbursements are costs payable to third parties and include Land Registry or Court fees.
Court fees vary depending upon the cost of the claim being made. The Court fees will vary from £35 for a claim up to an amount of £300, to £10,000 for a claim of more than £200,000.
How long will my matter take?
The timescales for Debt Recovery are difficult to predict accurately due to the different circumstances and methods available. As a guide, for a small claim, where the debtor co-operates, a recovery may take around 3 to 6 months. Where a debt is secured against a property, recovery may take a few years as it will be dependent on the debtor selling the property.
Please contact our Litigation Team to discuss your specific situation.